Renaissance Technologies LLC Acquires 34,500 Shares of Hagerty, Inc. (NYSE:HGTY)

Renaissance Technologies LLC grew its holdings in shares of Hagerty, Inc. (NYSE:HGTY - Free Report) by 21.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 193,896 shares of the company's stock after buying an additional 34,500 shares during the period. Renaissance Technologies LLC owned 0.06% of Hagerty worth $1,871,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HGTY. Pembroke Management LTD purchased a new position in Hagerty during the 4th quarter valued at $9,201,000. Markel Group Inc. raised its stake in Hagerty by 3.6% in the fourth quarter. Markel Group Inc. now owns 3,108,000 shares of the company's stock worth $29,992,000 after buying an additional 108,000 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Hagerty in the fourth quarter worth about $879,000. Trexquant Investment LP boosted its position in Hagerty by 100.5% during the 4th quarter. Trexquant Investment LP now owns 97,257 shares of the company's stock valued at $939,000 after acquiring an additional 48,742 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Hagerty by 41.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,101 shares of the company's stock worth $1,323,000 after acquiring an additional 39,958 shares during the period. 20.51% of the stock is owned by hedge funds and other institutional investors.

Hagerty Trading Down 5.5 %

Shares of NYSE HGTY opened at $8.63 on Friday. Hagerty, Inc. has a 1 year low of $8.03 and a 1 year high of $12.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $9.19 and a 200 day moving average of $10.05. The stock has a market cap of $2.94 billion, a P/E ratio of 78.45 and a beta of 0.88.

Insider Activity

In other news, Director Laurie Harris sold 3,934 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $8.41, for a total value of $33,084.94. Following the transaction, the director now owns 30,349 shares in the company, valued at approximately $255,235.09. This represents a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert I. Kauffman sold 3,861 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $10.21, for a total transaction of $39,420.81. Following the sale, the director now owns 4,312,192 shares in the company, valued at approximately $44,027,480.32. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,572 shares of company stock worth $725,693. Insiders own 17.90% of the company's stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their target price on Hagerty from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th.

Hagerty Company Profile

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.